Vishay Intertechnology Inc. said on Monday that it was ending its effort to buy El Segundo-based International Rectifier Corp. three days after a decisive shareholder vote.

On Friday at the International Rectifier annual meeting, investors voted down a slate of three Vishay-supported board candidates. Shareholders also defeated Vishay’s proposed bylaw amendments meant to support its takeover bid.

“As we have consistently said, we can not pursue our proposal in the face of opposition from a board of directors that has refused to engage in any discussion with us regarding our offer,” Vishay said in a statement Monday. “We regret that International Rectifier stockholders will not be able to participate in what would have been a compelling opportunity to create significant value for them.”

International Rectifier, known as IR, a maker of power-management computer chips, welcomed Vishay’s decision to back down.

“International Rectifier’s board and management are pleased with the support and input we received from our shareholders,” chairman Richard J. Dahl said in a statement. “We are optimistic about the future growth opportunities for our business, and we will remain focused on executing our strategic roadmap to create value for our shareholders.”

From the start, IR had rebuffed Vishay’s efforts to negotiate an acquisition, even after the suitor raised its initial $21.22 offer to $23 a share and further hinted at an even higher bid. IR had insisted that the Pennsylvania computer chip maker was grossly undervaluing the South Bay company’s potential value based on expected growth.

The end of Malvern, Pa.-based Vishay’s hostile takeover bid means that IR’s 4,500 worldwide employees, including about 600 in El Segundo, would be spared the trauma of an acquisition, which often leads to job cuts to eliminate redundancies.

Over the past year, IR had made senior management changes after former CEO Alex Lodow’s October 2007 resignation following the discovery of accounting irregularities.

On Aug. 1, the company said it completed its restatements for the periods involved in the irregularities.

The firm had been involved in a previous sale to Vishay. Last year, the local firm sold its power-control systems business to Vishay.

On Monday, IR’s stock closed at $15.46, up $1.49 or 10.67 percent, on the New York Stock Exchange. The stock’s rise coincided with a broad rise in stocks Monday amid efforts by world governments to shore up unsteady financial markets.